CHICAGO — A $117 million rehabilitation project to preserve affordable housing on the city’s south side got underway Friday.
Sen. Dick Durbin and officials from the Illinois Housing Development Authority and the Department of Housing and Urban Development were on hand for the ceremony outside the Island Terrace Apartments at East 64th Street and South Stony Island Avenue, just blocks from the future Obama Presidential Center.
The organization Preservation of Affordable Housing is leading the renovation project of the 1960s-built high-rise with more than 200 units after financing was secured from several public funding sources.
"This is the type of development and the type of work that we need, and we need more of it," said Il. State Sen. Robert Peters (D-Chicago).
The project was made possible after the 2020 passage of the Woodlawn Housing Preservation Ordinance which aimed to keep existing residents from being displaced as the value of homes surrounding the presidential center increased.
Residents will be relocated on a staggered basis during the renovation project, which will upgrade the kitchens, bathrooms and appliances in each unit. The building will receive upgraded systems, community areas and a new outdoor space.
The project is expected to take about 18 months to complete.
"The renovation of Island Terrace is more than just a facelift," said Commissioner Lissette Castañeda of the Chicago Department of Housing. "It is an investment into the future of our city. It symbolizes a collective commitment to preserving affordable housing and enhancing the quality of life for all Chicagoans."
Since 2010, POAH has built or acquired 1,354 homes in Woodlawn.
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June 14, 2024 at 02:44PM
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